Short sale approvals up…Fannie Mae foreclosures also up!

Az Short sales continue to dominate the market as we have seen a 5% increase in short sale closings over the last two months.

However Fannie Mae foreclosures are also on the rise and many of those are people who are trying to do short sales and Fannie Mae isn’t letting them. They are requiring sellers to be at least 30 days behind on their mortgage yet the property MUST close before the foreclosure date as there will be no extension.

So there is basically a very small window of opportunity to get these done in that time frame. Unfortunately many people are unaware of this information as publicly Fannie Mae continues to tell everyone that they are trying to help out the American public when in reality they are forcing the average American into foreclosure.

Related posts:

1. Fannie Mae Cracking down on Foreclosures!!
2. Fannie Mae – Freddie Mac Bailout could cost $685 Billion…
3. Government wants your house!!
4. Fannie Mae needs 8.4 Billion dollars???
5. Short Sale Guidelines From Fannie Mae – Updated